Global| Nov 04 2013U.S. Vehicle Sales Are Off Highs, But Up Year-to-Year
by:Tom Moeller
|in:Economy in Brief
Summary
Unit sales of light motor vehicles last month edged 0.3% lower (+5.8% y/y) versus September to 15.23 million (SAAR), according to the Autodata Corporation. The latest level of sales compares to the August peak of 16.09 million. Light [...]
Unit sales of light motor vehicles last month edged 0.3% lower (+5.8% y/y) versus September to 15.23 million (SAAR), according to the Autodata Corporation. The latest level of sales compares to the August peak of 16.09 million.
Light truck sales were firm and inched up 0.6% (9.0% y/y) in October to 7.61 million. Strongest were sales of imported light trucks which increased 2.0% month-to-month (27.6% y/y) to 1.12 million. Domestic light truck sales gained 0.4% (6.4% y/y) to 6.49 million.
Offsetting these gains was 1.2% m/m (+2.8% y/y) slip in auto sales to 7.63 million. Domestic car sales ticked 0.8% higher (4.2% y/y) to 5.40 million but sales of imports fell 5.8% (-0.4% y/y) to 2.23 million.
Imports share of the U.S. light vehicle market fell m/m to 22.0% during October. (Imported vehicles are those produced outside the United States.) That share remained down from its peak of 29.9% in Q1'09. Imports' share of the U.S. car market fell m/m to 29.3% and remained down from its 37.6% monthly peak in 2010. Imports' share of the light truck market was roughly flat at 14.7%.
U.S. vehicle sales figures can be found in Haver's USECON database.
| Light Vehicle Sales (SAAR, Mil. Units) | Oct | Sep | Aug | Y/Y % | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total | 15.23 | 15.28 | 16.09 | 5.8 | 14.49 | 12.78 | 11.59 |
| Autos | 7.63 | 7.72 | 8.03 | 2.8 | 7.42 | 6.23 | 5.77 |
| Domestic | 5.40 | 5.35 | 5.64 | 4.2 | 5.10 | 4.21 | 3.76 |
| Imported | 2.23 | 2.37 | 2.39 | -0.4 | 2.32 | 2.02 | 2.01 |
| Light Trucks | 7.61 | 7.56 | 8.06 | 9.0 | 7.08 | 6.55 | 5.82 |
| Domestic | 6.49 | 6.46 | 6.97 | 6.4 | 6.10 | 5.55 | 4.86 |
| Imported | 1.12 | 1.10 | 1.09 | 27.6 | 0.97 | 1.00 | 0.96 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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